Australian inshurtech startup Integrity Life received $ 43 million

Australian insur-tech startup Integrity Life has announced a $ 43 million Series B funding round raised before and during the COVID-19 pandemic, Forinshurer writes.

Most of the capital came from institutional funds managed by Schroder Investment Management (Switzerland), backed by existing institutional shareholders Leadenhall Capital Partners and Daido Life, as well as small stakes from Australian and international seasoned investors.

Integrity Life says the funding will be used to support the expansion of operations and the further development of its digital insurance products. The investment will allow the project to bring in more new products for both financial advisors and customer service.

Scott Mitchell, Life Insurance Portfolio Manager at Schroders, said the company has supported Integrity Life in its next phase of growth as it continues to strengthen its position in the Australian life insurance market. The investment gives investors the opportunity to support digital businesses that provide access to diversified life insurance risks such as mortality, critical illness and disability.